Tata Realty Eyes Rs 11,000 Cr Topline In Residential Real Estate

  • REALTY PLUS

Tata Realty and Infrastructure Ltd (TRIL) plans to launch 9 million of residential real estate inventory aiming at a topline of Rs 11,000 crore in the next four years with a 70 percent focus on premium luxury projects followed by aspirational affordable and mid-segment.

The launches will be predominantly in cities like Bengaluru, Mumbai and Delhi NCR. The company also plans to launch a 36-villa project in the Maldives and has a mixed-use project in Sri Lanka under the planning stage.

In Mumbai, the company will soon launch two residential projects in Mulund and Andheri micro-markets, of which Mulund is a redevelopment and Andheri is a Greenfield project. In the Thane project, a new phase will be launched.

Apart from launching new residential projects in Bengaluru, Mumbai and Delhi NCR, TRIL will also focus on launching further phases in the cities like Bhubaneshwar, Noida, Gurugram, Bahadurgarh and Bengaluru where it already has a presence. The average per-square-foot price for launches will be around Rs 12,000 whereas five years ago it was around Rs 6,000 to Rs 7,000 which went up to Rs 10,000 per sq ft.

The company plans to remain focused on two countries — Sri Lanka and Maldives which are strategically located near the southern tip of India.